Credit Industriel ET Commercial Invests $580,000 in Blackbaud, Inc. (NASDAQ:BLKB)

Credit Industriel ET Commercial bought a new position in shares of Blackbaud, Inc. (NASDAQ:BLKB) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,847 shares of the technology company’s stock, valued at approximately $580,000.

Several other hedge funds have also recently bought and sold shares of BLKB. Dimensional Fund Advisors LP raised its holdings in shares of Blackbaud by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,019,923 shares of the technology company’s stock worth $75,393,000 after acquiring an additional 3,119 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Blackbaud by 41.0% in the fourth quarter. Bank of New York Mellon Corp now owns 482,561 shares of the technology company’s stock valued at $35,671,000 after purchasing an additional 140,273 shares in the last quarter. Norges Bank acquired a new position in shares of Blackbaud during the fourth quarter worth about $34,168,000. Charles Schwab Investment Management Inc. raised its position in Blackbaud by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 412,673 shares of the technology company’s stock valued at $30,505,000 after buying an additional 2,298 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in Blackbaud by 28.7% in the 4th quarter. First Trust Advisors LP now owns 356,243 shares of the technology company’s stock valued at $26,333,000 after acquiring an additional 79,369 shares in the last quarter. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Robert W. Baird lowered their price objective on shares of Blackbaud from $80.00 to $76.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Blackbaud presently has a consensus rating of “Hold” and a consensus target price of $85.33.

Blackbaud Stock Performance

Shares of NASDAQ BLKB opened at $62.15 on Thursday. The company has a debt-to-equity ratio of 7.40, a quick ratio of 0.68 and a current ratio of 0.78. The stock has a 50 day moving average price of $63.98 and a 200 day moving average price of $74.53. The stock has a market capitalization of $3.06 billion, a PE ratio of -10.53 and a beta of 1.04. Blackbaud, Inc. has a 52 week low of $58.05 and a 52 week high of $88.95.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.58 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.50). The company had revenue of $302.23 million during the quarter, compared to analyst estimates of $303.41 million. Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. Analysts predict that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

About Blackbaud

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, education institutions, and healthcare organizations in the United States and internationally. The company offers fundraising and engagement solutions, such as Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud eTapestry, Blackbaud Luminate Online, Blackbaud TeamRaiser, JustGiving, Blackbaud Fundraiser Performance Management, Blackbaud Guided Fundraising, and Blackbaud Altru; and financial management solutions comprising Blackbaud Financial Edge NXT, Blackbaud Tuition Management, and Blackbaud Financial Aid and Billing Management.